Bud­get deficit drops to 737 bil­lion MNT af­ter 25 per­cent in­crease in tax rev­enue

The UB Post - - FRONT PAGE - By B.CHINTUSHIG

The state bud­get deficit de­creased to 737.9 bil­lion MNT as of the first nine months of 2017, sup­ple­mented by a 25 per­cent in­crease in tax rev­enue, re­ported the Na­tional Sta­tis­ti­cal Of­fice (NSO) this week.

The to­tal rev­enue of the state bud­get was five tril­lion MNT while ex­pen­di­ture ex­ceeded 5.8 tril­lion MNT. As a re­sult, fis­cal deficit cur­rently stands at 737.9 bil­lion MNT.

While still high, econ­o­mists note the sig­nif­i­cant de­crease in the bud­get deficit. This year’s deficit is a 1.3 tril­lion MNT de­crease com­pared to the deficit in the first nine months of 2016.

A one tril­lion MNT in­crease in rev­enue and 291.4 bil­lion MNT de­crease in ex­pen­di­ture were the main fac­tors for the dras­tic de­crease, NSO noted.

A 25 per­cent in­crease in tax rev­enue re­sulted in the to­tal rev­enue of tax into the state bud­get to in­crease to 4.4 tril­lion MNT.

Tax rev­enue ac­counts for 80 per­cent of the to­tal rev­enue of the state bud­get, while non-tax rev­enues made up 11.7 per­cent, rev­enue from sov­er­eign funds ac­count for 4.6 per­cent, and sta­bi­liz­ing funds ac­count for 3.7 per­cent.

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